President Obama has released a $4 trillion budget proposal for FY 2016. It contains a range of programs designed to encourage deployment of the next generation clean energy and energy efficiency technologies. Here are the top five things to know about the budget in terms of clean energy and environmental investments.
1. Clean Power State Incentive Fund
The U.S. President proposes a $4 billion incentive fund to encourage states to make faster and deeper cuts in carbon emissions from electricity, than would be required under the Clean Power Plan. The Environmental Protection Agency (EPA) is to administer the Clean Power State Incentive Fund, which would enable states to invest in activities that advance and complement the agency’s Clean Power Plan. The administration outlines several goals, including addressing impacts from environmental pollution in low-income communities to supporting businesses to catalyze investment in renewable energy, energy efficiency and combined heat and power. The budget also includes $239 million to support reductions in greenhouse gas emissions programs at the EPA. In particular, $25 million would be used to help states develop their Clean Power Plan strategies. Read more>>